Rvrkids,
As long as you're using the school's emempt status there shouldn't be any issues with the IRS UNLESS the school wants to control the funds; which they can. They also need to know all of the goes ins and goes outs to track the money. If you want to prevent this from happening (not to say that it will), you need tho do the following: establish your group as an official organization, change your bylaws (if necessary) and follow them, develop a budget and stick to it, and file for nonprofit status (not as hard as it sounds). Most of the info/forms are available on this website as well as from members here. Organizing documents vary from state to state. Find out what your state requires as well as going to www.irs.gov
and download Publication 557. This will give you info on filing for non-profit status. Treat everything as if you are starting a new organization.
Remember that help is here. [img]smile.gif[/img]
In reading some of these posts, we need more help than I thought. I am the treasurer, new this year, for the PTO for our elementary parochial school. We need to make so many changes. Our school has grown extremely fast over the last few years and most of the small country school ways are still in place. I came to this position with 10 years of business experience managing budgets and didn't know what I was getting into. We've done very well with fundraisers over the last several years and have spent money very freely. We are currently averaging an account balance of $40-$50K. The PTO, until this year, has never had an official budget or planned expenses. I had other questions before I read some of these posts but now I'm concerned about our organization's status as far as the government is concerned. We currently use the school's tax exempt info and we do have a copied set of by-laws (which are not followed) but I have no idea if they are registered with anyone and I know nothing else about our status. When I see people talking about the IRS I'm getting a little concerned. PLEASE HELP (with this issue first)!
